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Hungary's MOL says interested in INA privatization

Hungarian oil and gas group MOL said it was interested in the further privatization of Croatia's INA and has begun to renegotiate a shareholder deal with the Croatian government.

“At the moment the shareholder agreement between MOL and the Croatian government is being renegotiated,” MOL's Chairman and Chief Executive Zsolt Hernádi told Reuters.

“MOL has always said that under the appropriate conditions it was interested in the privatization of INA, should the Croatian government decide to continue the privatization,” he added.

Hernádi spoke after a meeting between Croatian Prime Minister Ivo Sanader and Hungarian Prime Minister Ferenc Gyurcsány in Budapest.

Hungarian oil and gas group MOL holds a 25% stake in INA and said it would like to raise its stake to a majority. (Reuters)